With interest rates at historically low levels, it’s worth finding out if your home loan is still competitive.
Are you 100% sure your loan is still the right one for you?
You’ve gone through the process and paperwork to get your home loan. The hard part is done, you can afford the repayments so time to settle in right? Not necessarily. If you hit the ‘Set and forget” stage some time ago, there is likely a more competitive rate for you out there. Lenders are a competitive bunch, always developing new products and seeking to offer more competitive rates.
With this in mind, we encourage any home owner to organise a home loan health check. At JRD Finance Solutions, we can check and compare the market to ensure you aren’t missing out on that more competitive rate. Refinancing your mortgage could mean reducing monthly repayments, and unlocking equity that could be used towards building a better future. With interest rates at record lows, there has never been a better time to get a home loan health check.
If you are unsure if you should refinance, we have listed a few reasons why people refinance below.
Your life has changed
Your financial needs change as your circumstances and your home loan is no exception. If you’ve had a home loan for a few years now, it’s safe to assume your life has changed in that time.
You may have received a promotion, or gone through significant life changes such as getting married or had your first child. Refinancing will allow you to ensure your home loan is still in line with your needs and goals.
Pay off your loan faster
If you’ve become more financially stable or received a promotion or maybe even had some cash windfalls, you might be able to contribute more towards your home loan and get out of debt sooner.
To access equity and purchase investments
If you purchased in an area that has experienced value growth while you’ve been paying down your mortgage, or if you have made some improvements to the property, you may have a substantial amount of equity in your home.
Equity is calculated by subtracting the remainder of your mortgage from the market value of your home, usually done through a home evaluation.
How We Can Help
We know lending can be a complicated space. That’s why we gathered the industry knowledge and panel of lenders to be able to assist you and streamline an otherwise painful process. From research to application, to settlement, we are with you to ensure smooth sailing.
Contact Us
Our team will help you search, choose and settle your loan. Contact our team for more information on your loan options.
Phone
0490 856 100
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